Why Should You Consider Selling and Buying Gold on EMI?

Whether you want to buy gold on EMI or sell it to access funds, you are guaranteed benefits. Gold has been one of the popular investment options for ages. People buy and sell gold online every day. The reason is that it holds great value even in the face of inflation. 

In this article, we will explore the reasons people buy and sell gold online. 

Reasons to invest in gold

• It has maintained its value. 

Unlike other metals, gold has held on to its value in the market. People treat gold as a way to pass on or reserve wealth.  

• Holds its value even when the reserve currency falls 

The best thing about gold is that its value rises when the US dollar or the reserve currency falls. Therefore, it has been termed as a safe haven for investors. When the reserve currency falls, people rush to secure gold. 

• Hedge against inflation

Another reason investing in gold is a good option is that it hedges against inflation, as the prices rise when the cost of living increases. 

• Prices reduce during inflation

When the business activity slows down during deflation and the economy has to deal with more debts, the purchasing power of gold increases while other princes drop. 

• Gold prices increase during geopolitical uncertainty

When the world faces a great crisis, people often turn to gold as relative safety. For instance, when the confidence in governments is low, the gold prices increase. The recent pandemic gave way to the major gold price movements.  

• Supply constraint

Most of the gold supply comes from the sale of gold bullion from the central bank. Since there has been a decline in the gold supply from the central bank and the gold mining companies are not producing enough yellow metals, the gold prices have significantly increased. 

• Increase in gold demand

The increasing salaries or income of individuals lead to the rise in the demand for gold. Indians buy gold during festivals and religious events, such as weddings, Diwali, etc.  The demand for gold has also been growing among Indian investors. 

Reasons to sell gold for cash

Gold is a valuable commodity that enables you to get access to funds whenever required. So, if you have unwanted gold items lying idle at home, you can sell them for cash and meet your immediate requirement. It is a great way to manage your finance during a cash crunch. 

Here are the top reasons to sell gold for cash: 

• Caters to the urgent requirement 

The benefit of selling gold for cash is that it can meet your requirement for funds. For instance, if you are in urgent need of liquid cash to cover the cost of a wedding, education, or travel, you can sell your gold jewellery to meet your needs. With the increasing prices of gold, now may be the best time to earn some extra money. 

• Gold jewellery is out of fashion 

Another reason people sell their gold jewellery is that it has gone out of fashion. By selling your gold jewellery, you can exchange it for a new one that fits the recent trend in the market. 

• Pay off your credit card bills 

If you are under the pressuring of paying your credit card bills on time, it is better to sell your unwanted gold to avoid accumulating interest. Therefore, gold offers an easy way to manage your finances than dipping into your savings. 

• Get rid of bitter memories

Some gold items bring with them a bitter past. For instance, a necklace from your former partner could only cause more pain. Instead of keeping it idle at home, you can sell it for cash and use the funds for something better and useful. You can sell your gold to pay for expenses, such as vehicle repair, home renovation, home loan down payment, wedding, travel, education, etc.  

In short 

People buy on EMI and sell gold online for various reasons. Some people buy gold to preserve their wealth while some buy gold to earn extra cash when the prices increase. The best part is that it holds great value even in the face of inflation. 

On the other hand, if you have unwanted gold lying idle in your cupboard and also have a financial requirement, it would be wise to sell it for cash. With the gold rate being at its best, now may be the best time to get good money for your gold.